If you are one of the 24-thousand consumers who filed a claim in Washington’s LCD price fixing settlement, check your mailbox.
More than $41 million in checks will go out to consumers on Monday.
“Jesse, this is one of the biggest, largest, consumer cases in the history of the state of Washington. It’s a big one and we earned it,” said Washington State Attorney General Bob Ferguson.
Ferguson sued LCD makers claiming they participated in a price fixing conspiracy from 1998 to 2006.
Ferguson claimed the manufacturers worked together driving up the price of television screens, notebooks, iPod and cellphones.
“It’s a classic thing you see in a movie. A bunch of CEOs, getting together on a golf course, over a series of many meetings. To say, hay, you know what this competition thing isn’t working so well, we have to put our prices down, let’s all agree on one price and inflate it about 20-percent,” said Ferguson.
More than one million items were successfully claimed. Claimants will receive $72 per LCD TV, $23 for flat screen monitors, $48 per notebook computer and $6 for each color screen iPod and cellphones.
Ferguson pursued it’s case separately from other states making similar claims.
Ferguson said LCD manufactures pushed back forcing hearings at the Washington State Supreme Court before a settlement was reached.
“I wanted other companies to know, Washington state is willing to go our own way, take these guys on, litigate these things all the way up to our state supreme court in order to give consumers their money back,” said Ferguson.
On average, each consumer will receive about $203. The total varies based on the number and type of items claimed.
Checks will be mailed out starting September 18th, and should arrive with claimants in the next few weeks. People with questions about their claims should contact AB Data at 866-778-9468 or email@example.com.